NYSE : ALC
Alcon Inc. — Financial statements
Healthcare · Medical Instruments & Supplies · Switzerland
Last price 71.45 USD (Oct 30, 2026, 4:00 PM EST) · Market cap 34.68B
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Financial statements
Alcon Inc. (ALC) reported revenue of 10.86B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 10.76B | 10.32B | 9.84B | 9.37B | 8.65B | 8.22B |
| Other Revenue | 103.00M | 82.00M | 75.00M | 85.00M | 63.00M | 69.00M |
| Revenue | 10.86B | 10.40B | 9.91B | 9.46B | 8.72B | 8.29B |
| Cost of Revenue | 4.65B | 4.61B | 4.40B | 4.21B | 3.91B | 3.60B |
| Gross Profit | 6.21B | 5.79B | 5.51B | 5.25B | 4.81B | 4.70B |
| Selling, General & Admin | 3.61B | 3.45B | 3.25B | 3.21B | 3.07B | 3.08B |
| Research & Development | 1.03B | 988.00M | 867.00M | 828.00M | 700.00M | 703.00M |
| Other Operating Expenses | 177.00M | 79.00M | 30.00M | 132.00M | 125.00M | 99.00M |
| Operating Expenses | 4.82B | 4.52B | 4.15B | 4.17B | 3.89B | 3.88B |
| Operating Income | 1.40B | 1.27B | 1.37B | 1.08B | 916.00M | 818.00M |
| Interest Expense | -209.00M | -204.00M | -192.00M | -189.00M | -134.00M | -120.00M |
| Interest & Investment Income | 63.00M | 74.00M | 84.00M | 45.00M | 16.00M | 3.00M |
| Earnings From Equity Investments | -9.00M | -18.00M | -8.00M | |||
| Currency Exchange Gain (Loss) | -38.00M | -38.00M | -30.00M | -39.00M | -58.00M | -29.00M |
| Other Non Operating Income (Expenses) | -12.00M | -12.00M | -12.00M | -11.00M | -12.00M | -10.00M |
| EBT Excluding Unusual Items | 1.19B | 1.08B | 1.21B | 884.00M | 728.00M | 662.00M |
| Merger & Restructuring Charges | -8.00M | -10.00M | -3.00M | -39.00M | -91.00M | -21.00M |
| Gain (Loss) on Sale of Investments | 142.00M | |||||
| Gain (Loss) on Sale of Assets | 57.00M | |||||
| Asset Writedown | -545.00M | -45.00M | -9.00M | -61.00M | -225.00M | |
| Legal Settlements | -90.00M | -50.00M | ||||
| Other Unusual Items | 100.00M | -3.00M | 1.00M | -13.00M | -23.00M | 52.00M |
| Pretax Income | 741.00M | 1.16B | 1.26B | 832.00M | 463.00M | 418.00M |
| Income Tax Expense | 98.00M | 180.00M | 238.00M | -142.00M | 128.00M | 42.00M |
| Net Income | 643.00M | 980.00M | 1.02B | 974.00M | 335.00M | 376.00M |
| Net Income to Common | 643.00M | 980.00M | 1.02B | 974.00M | 335.00M | 376.00M |
| Shares Outstanding (Basic) | 489.05M | 493.20M | 494.40M | 493.00M | 491.40M | 490.00M |
| Shares Outstanding (Diluted) | 491.95M | 496.20M | 497.50M | 496.50M | 494.40M | 493.40M |
| EPS (Basic) | 1.31 | 1.99 | 2.06 | 1.98 | 0.68 | 0.77 |
| EPS (Diluted) | 1.31 | 1.98 | 2.05 | 1.96 | 0.68 | 0.76 |
| Free Cash Flow | 1.74B | 1.73B | 1.60B | 728.00M | 96.00M | 645.00M |
| Free Cash Flow Per Share | 3.54 | 3.48 | 3.22 | 1.47 | 0.19 | 1.31 |
| Dividend Per Share | 0.35 | 0.35 | 0.31 | 0.29 | 0.23 | 0.22 |
| Gross Margin | 57.22% | 55.67% | 55.65% | 55.49% | 55.17% | 56.64% |
| Operating Margin | 12.88% | 12.25% | 13.80% | 11.40% | 10.51% | 9.87% |
| Profit Margin | 5.92% | 9.42% | 10.27% | 10.30% | 3.84% | 4.54% |
| Free Cash Flow Margin | 16.02% | 16.61% | 16.18% | 7.70% | 1.10% | 7.78% |
| EBITDA | 2.40B | 2.33B | 2.50B | 2.21B | 1.90B | 1.95B |
| EBITDA Margin | 22.13% | 22.41% | 25.24% | 23.33% | 21.81% | 23.57% |
| D&A For EBITDA | 1.00B | 1.06B | 1.13B | 1.13B | 985.00M | 1.14B |
| EBIT | 1.40B | 1.27B | 1.37B | 1.08B | 916.00M | 818.00M |
| EBIT Margin | 12.88% | 12.25% | 13.80% | 11.40% | 10.51% | 9.87% |
| Effective Tax Rate | 13.23% | 15.52% | 18.95% | 27.65% | 10.05% | |
| Revenue as Reported | 10.86B | 10.40B | 9.91B | 9.46B | 8.72B | 8.29B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 1.35B | 1.53B | 1.68B | 1.09B | 980.00M | 1.57B |
| Short-Term Investments | 101.00M | 85.00M | 165.00M | 7.00M | 3.00M | |
| Trading Asset Securities | 1.00M | |||||
| Cash & Short-Term Investments | 1.46B | 1.61B | 1.84B | 1.10B | 980.00M | 1.58B |
| Accounts Receivable | 2.08B | 2.08B | 1.85B | 1.89B | 1.77B | 1.59B |
| Other Receivables | 21.00M | 215.00M | 199.00M | 197.00M | 189.00M | 193.00M |
| Receivables | 2.10B | 2.29B | 2.05B | 2.08B | 1.96B | 1.79B |
| Inventory | 2.51B | 2.39B | 2.27B | 2.32B | 2.11B | 1.90B |
| Prepaid Expenses | 1.00M | 1.00M | 112.00M | 107.00M | 92.00M | |
| Other Current Assets | 557.00M | 151.00M | 147.00M | 29.00M | 33.00M | 31.00M |
| Total Current Assets | 6.62B | 6.45B | 6.31B | 5.65B | 5.19B | 5.39B |
| Property, Plant & Equipment | 5.26B | 5.22B | 4.84B | 4.72B | 4.42B | 4.08B |
| Long-Term Investments | 768.00M | 332.00M | 283.00M | 148.00M | 108.00M | 52.00M |
| Goodwill | 9.26B | 9.26B | 8.95B | 8.93B | 8.93B | 8.90B |
| Other Intangible Assets | 8.27B | 9.01B | 8.59B | 9.06B | 9.69B | 8.77B |
| Long-Term Accounts Receivable | 168.00M | 121.00M | 126.00M | 119.00M | 110.00M | |
| Long-Term Deferred Tax Assets | 486.00M | 458.00M | 421.00M | 443.00M | 411.00M | 409.00M |
| Other Long-Term Assets | 434.00M | 428.00M | 622.00M | 336.00M | 281.00M | 269.00M |
| Total Assets | 31.10B | 31.55B | 30.35B | 29.61B | 29.16B | 28.00B |
| Accounts Payable | 968.00M | 926.00M | 773.00M | 811.00M | 861.00M | 903.00M |
| Accrued Expenses | 717.00M | 709.00M | 763.00M | 713.00M | 701.00M | |
| Short-Term Debt | 67.00M | 70.00M | 75.00M | 53.00M | 28.00M | 23.00M |
| Current Portion of Long-Term Debt | 503.00M | 505.00M | 30.00M | 10.00M | 79.00M | 91.00M |
| Current Portion of Leases | 81.00M | 80.00M | 68.00M | 71.00M | 71.00M | 67.00M |
| Current Income Taxes Payable | 228.00M | 182.00M | 104.00M | 114.00M | 175.00M | 187.00M |
| Current Unearned Revenue | 84.00M | 73.00M | 78.00M | 89.00M | 108.00M | |
| Other Current Liabilities | 1.32B | 485.00M | 446.00M | 498.00M | 722.00M | 392.00M |
| Total Current Liabilities | 3.17B | 3.05B | 2.28B | 2.40B | 2.74B | 2.47B |
| Long-Term Debt | 4.15B | 4.16B | 4.54B | 4.68B | 4.54B | 3.97B |
| Long-Term Leases | 499.00M | 429.00M | 429.00M | 335.00M | 359.00M | 339.00M |
| Long-Term Unearned Revenue | 91.00M | 86.00M | 32.00M | |||
| Pension & Post-Retirement Benefits | 442.00M | 406.00M | 434.00M | 396.00M | 595.00M | |
| Long-Term Deferred Tax Liabilities | 841.00M | 941.00M | 724.00M | 797.00M | 1.06B | 1.03B |
| Other Long-Term Liabilities | 846.00M | 406.00M | 333.00M | 318.00M | 390.00M | 345.00M |
| Total Liabilities | 9.50B | 9.52B | 8.79B | 8.99B | 9.49B | 8.74B |
| Common Stock | 20.00M | 20.00M | 20.00M | 20.00M | 20.00M | 20.00M |
| Comprehensive Income & Other | 21.57B | 22.01B | 21.53B | 20.60B | 19.66B | 19.24B |
| Total Common Equity | 21.59B | 22.03B | 21.55B | 20.62B | 19.68B | 19.26B |
| Minority Interest | 1.00M | 1.00M | ||||
| Shareholders' Equity | 21.60B | 22.04B | 21.55B | 20.62B | 19.68B | 19.26B |
| Total Liabilities & Equity | 31.10B | 31.55B | 30.35B | 29.61B | 29.16B | 28.00B |
| Total Debt | 5.30B | 5.25B | 5.14B | 5.14B | 5.08B | 4.49B |
| Net Cash (Debt) | -3.84B | -3.63B | -3.30B | -4.04B | -4.10B | -2.91B |
| Net Cash Per Share | -7.81 | -7.32 | -6.63 | -8.15 | -8.29 | -5.89 |
| Filing Date Shares Outstanding | 483.40M | 487.43M | 494.60M | 493.24M | 490.09M | 490.09M |
| Total Common Shares Outstanding | 483.40M | 487.43M | 494.62M | 493.24M | 490.09M | 490.09M |
| Working Capital | 3.46B | 3.40B | 4.03B | 3.25B | 2.46B | 2.91B |
| Book Value Per Share | 44.67 | 45.20 | 43.58 | 41.81 | 40.15 | 39.29 |
| Tangible Book Value | 4.07B | 3.77B | 4.02B | 2.64B | 1.06B | 1.59B |
| Tangible Book Value Per Share | 8.41 | 7.74 | 8.13 | 5.35 | 2.17 | 3.24 |
| Land | 44.00M | 39.00M | 38.00M | 35.00M | 36.00M | |
| Buildings | 2.66B | 2.34B | 2.29B | 2.09B | 1.99B | |
| Machinery | 4.72B | 4.27B | 3.99B | 3.69B | 3.55B | |
| Construction In Progress | 988.00M | 940.00M | 1.02B | 955.00M | 790.00M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 643.00M | 980.00M | 1.02B | 974.00M | 335.00M | 376.00M |
| Depreciation & Amortization | 1.10B | 1.15B | 1.22B | 1.22B | 1.06B | 1.22B |
| Loss (Gain) From Sale of Assets | 18.00M | 16.00M | -41.00M | 27.00M | 10.00M | 13.00M |
| Asset Writedown & Restructuring Costs | 545.00M | 45.00M | 10.00M | 64.00M | ||
| Loss (Gain) From Sale of Investments | 142.00M | 7.00M | -14.00M | 3.00M | ||
| Loss (Gain) on Equity Investments | 9.00M | 18.00M | 8.00M | |||
| Stock-Based Compensation | 172.00M | 162.00M | 150.00M | 144.00M | 140.00M | 138.00M |
| Other Operating Activities | 67.00M | 204.00M | -8.00M | -319.00M | 242.00M | -26.00M |
| Change in Accounts Receivable | -121.00M | -129.00M | -55.00M | -110.00M | -164.00M | -198.00M |
| Change in Inventory | -215.00M | -156.00M | -47.00M | -271.00M | -217.00M | -326.00M |
| Change in Accounts Payable | 90.00M | 116.00M | -15.00M | -51.00M | -48.00M | 60.00M |
| Change in Other Net Operating Assets | -140.00M | -131.00M | -159.00M | -232.00M | -192.00M | 88.00M |
| Operating Cash Flow | 2.31B | 2.27B | 2.08B | 1.39B | 1.22B | 1.34B |
| Capital Expenditures | -570.00M | -543.00M | -473.00M | -660.00M | -1.12B | -700.00M |
| Sale of Property, Plant & Equipment | 5.00M | 5.00M | ||||
| Cash Acquisitions | -124.00M | -692.00M | -61.00M | -666.00M | ||
| Sale (Purchase) of Intangibles | -151.00M | -120.00M | -197.00M | -193.00M | -109.00M | -480.00M |
| Investment in Securities | -215.00M | 14.00M | -428.00M | -241.00M | 31.00M | -18.00M |
| Other Investing Activities | 3.00M | -8.00M | -8.00M | |||
| Investing Cash Flow | -1.05B | -1.34B | -1.17B | -1.09B | -1.86B | -1.20B |
| Long-Term Debt Issued | 97.00M | 59.00M | 106.00M | 2.59B | 52.00M | |
| Total Debt Issued | 61.00M | 97.00M | 59.00M | 106.00M | 2.59B | 52.00M |
| Short-Term Debt Repaid | -43.00M | |||||
| Long-Term Debt Repaid | -193.00M | -196.00M | -113.00M | -2.38B | -72.00M | |
| Lease Payments | -86.00M | -81.00M | -83.00M | -79.00M | -69.00M | -72.00M |
| Total Debt Repaid | -147.00M | -193.00M | -196.00M | -113.00M | -2.38B | -115.00M |
| Net Debt Issued (Repaid) | -86.00M | -96.00M | -137.00M | -7.00M | 208.00M | -63.00M |
| Repurchase of Common Stock | -963.00M | -723.00M | -47.00M | -49.00M | -50.00M | -22.00M |
| Common Dividends Paid | -174.00M | -166.00M | -130.00M | -116.00M | -100.00M | -54.00M |
| Other Financing Activities | -60.00M | -134.00M | -8.00M | -39.00M | -66.00M | 16.00M |
| Financing Cash Flow | -1.28B | -1.12B | -322.00M | -211.00M | -8.00M | -123.00M |
| Foreign Exchange Rate Adjustments | -28.00M | 43.00M | -6.00M | 31.00M | 61.00M | -6.00M |
| Net Cash Flow | -53.00M | -149.00M | 582.00M | 114.00M | -595.00M | 18.00M |
| Free Cash Flow | 1.74B | 1.73B | 1.60B | 728.00M | 96.00M | 645.00M |
| Free Cash Flow Margin | 16.02% | 16.61% | 16.18% | 7.70% | 1.10% | 7.78% |
| Free Cash Flow Per Share | 3.54 | 3.48 | 3.22 | 1.47 | 0.19 | 1.31 |
| Levered Free Cash Flow | 1.27B | 1.23B | 1.35B | 436.62M | 323.75M | 506.25M |
| Unlevered Free Cash Flow | 1.40B | 1.36B | 1.47B | 554.75M | 407.50M | 581.25M |
| Free Cash Flow After Leases | 1.65B | 1.65B | 1.52B | 649.00M | 27.00M | 573.00M |
| Cash Interest Paid | 193.00M | 190.00M | 182.00M | 176.00M | 111.00M | 108.00M |
| Cash Income Tax Paid | 133.00M | 107.00M | 326.00M | 255.00M | 178.00M | 175.00M |
| Change in Working Capital | -386.00M | -300.00M | -276.00M | -664.00M | -621.00M | -376.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 36.74B | 39.20B | 41.97B | 38.45B | 33.60B | 43.41B |
| Enterprise Value | 40.53B | 42.96B | 45.15B | 42.85B | 36.95B | 46.40B |
| Last Close Price | 71.45 | 78.56 | 84.43 | 77.53 | 67.89 | 86.13 |
| PE Ratio | 56.84 | 40.00 | 41.23 | 39.47 | 100.29 | 115.44 |
| PS Ratio | 3.28 | 3.77 | 4.24 | 4.07 | 3.85 | 5.24 |
| PB Ratio | 1.65 | 1.78 | 1.95 | 1.86 | 1.71 | 2.25 |
| P/TBV Ratio | 8.77 | 10.39 | 10.44 | 14.57 | 31.64 | 27.37 |
| P/FCF Ratio | 20.49 | 22.68 | 26.17 | 52.81 | 349.96 | 67.30 |
| P/OCF Ratio | 15.43 | 17.26 | 20.21 | 27.70 | 27.61 | 32.27 |
| EV/Sales Ratio | 3.63 | 4.13 | 4.55 | 4.53 | 4.24 | 5.60 |
| EV/EBITDA Ratio | 16.41 | 18.43 | 18.05 | 19.43 | 19.44 | 23.75 |
| EV/EBIT Ratio | 28.19 | 33.72 | 33.00 | 39.75 | 40.34 | 56.73 |
| EV/FCF Ratio | 22.67 | 24.86 | 28.15 | 58.86 | 384.89 | 71.94 |
| Debt / Equity Ratio | 0.24 | 0.24 | 0.24 | 0.25 | 0.26 | 0.23 |
| Debt / EBITDA Ratio | 2.12 | 2.17 | 1.99 | 2.24 | 2.57 | 2.20 |
| Debt / FCF Ratio | 3.04 | 3.04 | 3.20 | 7.07 | 52.90 | 6.96 |
| Net Debt / Equity Ratio | 0.18 | 0.17 | 0.15 | 0.20 | 0.21 | 0.15 |
| Net Debt / EBITDA Ratio | 1.60 | 1.56 | 1.32 | 1.83 | 2.16 | 1.49 |
| Net Debt / FCF Ratio | 2.21 | 2.10 | 2.06 | 5.55 | 42.69 | 4.51 |
| Asset Turnover | 0.35 | 0.34 | 0.33 | 0.32 | 0.30 | 0.30 |
| Inventory Turnover | 1.90 | 1.98 | 1.92 | 1.90 | 1.95 | 2.03 |
| Quick Ratio | 1.12 | 1.28 | 1.71 | 1.33 | 1.07 | 1.36 |
| Current Ratio | 2.09 | 2.12 | 2.77 | 2.35 | 1.90 | 2.18 |
| Return on Equity (ROE) | 2.94% | 4.50% | 4.83% | 4.83% | 1.72% | 1.98% |
| Return on Assets (ROA) | 2.80% | 2.57% | 2.85% | 2.29% | 2.00% | 1.84% |
| Return on Invested Capital (ROIC) | 4.75% | 4.26% | 4.48% | 4.45% | 2.89% | 3.35% |
| Return on Capital Employed (ROCE) | 5.00% | 4.50% | 4.90% | 4.00% | 3.50% | 3.20% |
| Earnings Yield | 1.76% | 2.50% | 2.43% | 2.53% | 1.00% | 0.87% |
| FCF Yield | 4.88% | 4.41% | 3.82% | 1.89% | 0.29% | 1.49% |
| Dividend Yield | 0.32% | 0.44% | 0.36% | 0.37% | 0.33% | 0.25% |
| Payout Ratio | 18.14% | 16.94% | 12.77% | 11.91% | 29.85% | 14.36% |
| Buyback Yield / Dilution | 1.23% | 0.26% | -0.20% | -0.43% | -0.20% | -0.90% |
| Total Shareholder Return | 1.55% | 0.70% | 0.16% | -0.06% | 0.13% | -0.65% |